Congress agrees to $900 Billion Covid Stimulus but halves checks for individuals
Pollemix News – December 21, 2020
After nearly 4 months of being deadlocked Democrats and Republicans were finally able to broker a deal on Sunday evening to provide a second round of Coronavirus stimulus to provide relief to Americans suffering from the economic ramifications of the pandemic.
The agreement will provide a $600 one-off payment to individuals earning under $75,000 per year, as well as $600 per child. There is also an inclusion for a temporary $300 supplemental increase in weekly unemployment benefits for at least the next 10 weeks.
The agreed payments are half of what was in the first Coronavirus Stimulus bill (CARES Act) agreed to in March, however, Senate Majority leader Mitch McConnell was adamant that another round of $1,200 checks was a non-starter despite bipartisan support from Bernie Sanders (I-VT) and Josh Hawley (R-Mo), as well as the backing of President Donald Trump. Regardless, the bill is expected to pass through the House and Senate with the President is expected to sign it into law, despite his earlier calls to increase the amount of the stimulus checks included.
McConnell made sure to credit Trump for pushing for the checks to be included in the bill, saying:
“At the particular request and emphasis of President Trump and his administration, our agreement will provide another round of direct impact payments to help households make ends meet and continue our economic recovery.”
Senate Minority Leader Chuck Schumer and House Leader Nancy Pelosi also released a statement:
“Today, we have reached an agreement with Republicans and the White House on an emergency coronavirus relief and omnibus package that delivers urgently needed funds to save the lives and livelihoods of the American people as the virus accelerates,” it said. In spite of the bipartisan agreement, however, Democrats warned that they only viewed the bill as a first step with Pelosi assuring her colleagues that “more help will be on the way” once Biden assumes office.
Although, the full details of what’s included in the bill still have to pass through commitee there is unlikely to be significant deviation from what’s been conditionally agreed. Along with the stimulus payments, the bill will likely include $25 billion in rent assistance, $20 billion for small business grants, $15 billion for live venues, $82 billion for local schools, colleges, and universities, and $10 billion for child care.
The eleventh hour agreement on the bill is welcome relief to those suffering from the economic consequences of the resurgent pandemic and with job losses continuing to rise the financial assistance is needed now more than ever.
POLL: Is the Government spending too much or not enough to help Americans through the pandemic?
